Tag: Forex
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CBN pays additional $64 million, concludes fx payment of verified airlines claims
The Central Bank of Nigeria (CBN) says it has concluded the payment of all verified claims by airlines with an additional 64.44 million dollars. Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications, said this in a statement on Tuesday.
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CBN clears $2 billion in outstanding FX liabilities
The Central Bank of Nigeria (CBN) says it has paid approximately two billion dollars in its bid to clear the backlog of outstanding foreign exchange liabilities across various sectors.
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Emefiele: Why EFCC stormed Dangote Head Office
Operatives of the Economic and Financial Crimes Commission, (EFCC) on Thursday, stormed the Lagos Head Office of the Dangote Group of companies.
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Nigeria’s forex market needs restructuring – Tinubu’s aide
The Special Adviser to the President on Economic Affairs, Dr Tope Fasua, has called for a structural reform of Nigeria’s foreign exchange market. Fasua made the call at a roundtable organised by the National Policy Advocacy Centre (NPAC) of the Abuja Chamber of Commerce and Industry (ACCI) on Tuesday in Abuja. The theme of the event…
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CBM revokes licenses of 13 forex companies
The Central Bank of Myanmar (CBM) has announced the revocation of licenses from 13 foreign currency exchange companies. This decision was made during a meeting of the central bank’s executive committee on Monday
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My policies already yielding positive results – Tinubu
President Bola Ahmed Tinubu says the Federal Government is receiving support and commendations from the global communities over the removal of fuel subsidy and the foreign exchange regime policies, saying they are yielding positive results.
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Naira gains at I&E window, closes at 793.70/$
The naira gained slightly against the United States dollar on the Investor & Exporter forex window on Wednesday, it closed at 793.70/$. Recall that the local currency had earlier traded at N825 a week earlier on the I&E window.
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Why Nigerians are experiencing fuel scarcity – IPMAN
The Independent Petroleum Association of Nigeria (lPMAN) has attributed the current fuel scarcity to the unavailability of petroleum products and difficulty in accessing foreign exchange by marketers.
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CBN makes strong case for economic diversification
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji has said there is an urgent need to diversify the Nigerian economy to spur growth.
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CBN receives accolades for injecting $265m into aviation sector
Some stakeholders have commended the Central Bank of Nigeria (CBN) for injecting $265million into the nation’s aviation sector.